Taking out a credit card after completion...

lb364

Hi,

I'm sure I've seen this on here before but can't find it...

I have exchanged on a property and want to take out a 0% card to pay for furniture etc.

I know I have to wait until after completion so it doesn't affect my mortgage application but is there a set amount of time to wait or could I apply straight after completion without it having a negative impact?

Thanks

japmis

I applied for a 0% credit card once my mortgage had been approved (so before exchange and completion) and didn't have any problems. But I guess it's all done on a person by person basis.

Wh05apk

To be safe, you should wait till you have completed, you would "probably" be ok beforehand, but if for some reason your lender-checks you, they could withdraw your offer, is the new furniture worth the risk?

martinsurrey

lb364 wrote: »

Hi,

I'm sure I've seen this on here before but can't find it...

I have exchanged on a property and want to take out a 0% card to pay for furniture etc.

I know I have to wait until after completion so it doesn't affect my mortgage application but is there a set amount of time to wait or could I apply straight after completion without it having a negative impact?

Thanks

1 seconds after you get the keys... they cant take the money back then.

Bartosz

I have applied just week later and had no problems at all, proposed credit limit was much higher than i could get before mortgage. And this only confirms my thoughts about banks - They like to keep people in deep debts, temptation to spend more because you can. Self controll is needed.

nuks

I also applied right after completion and was approved. From what I know the 'homeowner' status improves credit rating to some extent.

lb364

martinsurrey wrote: »

1 seconds after you get the keys... they cant take the money back then.

Hmm, I'm not sure I can type that fast!!

Thanks for all the answers.